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Ringer Hut fiscal Q1 profit falls YOY

Ringer Hut Co. Ltd. said its normalized net income for the fiscal first quarter ended May 31 amounted to ¥8.87 per share, a decrease of 19.6% from ¥11.02 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥195.6 million, a decrease of 19.5% from ¥243.1 million in the year-earlier period.

The normalized profit margin declined to 2.2% from 2.7% in the year-earlier period.

Total revenue came to ¥9.09 billion, compared with ¥9.16 billion in the prior-year period, and total operating expenses came to ¥8.76 billion, compared with ¥8.74 billion in the prior-year period.

Reported net income decreased 82.9% year over year to ¥35.0 million, or ¥1.59 per share, from ¥205.0 million, or ¥9.29 per share.

As of July 14, US$1 was equivalent to ¥101.58.